Court orders Pride Microfinance to clear loan of a client whose insurance policy it ‘misplaced’
In 2019, a heavy storm destroyed Joseryn Kyosimire’s banana plantation in Rushenyi, Ntungamo. Lucky for her, she had taken an agricultural loan of Shs 15 million from Pride Microfinance, and a tiny percentage of that loan (1.75%) was deemed as insurance. A loan officer at Pride had assured her that in case of a loss,…